Report summaryArcticshelfneftegaz operates Medynsko-Varandeiski block in the Pechora Sea. Two discoveries were made on the block in the 1990s, Medynskoye More and Varandei More. The first licensing round in the Barents Sea took place in November 1999, with Medynsko-Varandeiski as one of three licences awarded to company Arktikmorneftegazrazvedka (AMNGR). In 2002, the company established Arcticshelfneftegaz Joint Venture (JV) with its partner Industrial Investments. However, there was little progress in ...
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